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Lease Obligations (Tables)
12 Months Ended
Feb. 29, 2024
Leases [Abstract]  
Schedule of Components of Lease Cost

The components of lease cost for the year ended February 29, 2024 were as follows:

 

 

 

February 29,
2024

 

 

February 28,
2023

 

 

February 28,
2022

 

Operating lease cost (a) (c)

 

$

1,377

 

 

$

1,508

 

 

$

1,383

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

Amortization of right of use assets (a)

 

 

372

 

 

 

283

 

 

 

403

 

Interest on lease liabilities (b)

 

 

53

 

 

 

4

 

 

 

11

 

Total finance lease cost

 

$

425

 

 

$

287

 

 

$

414

 

 

(a)
Recorded within Selling, general, and administrative; Engineering and technical support; and Cost of sales on the Consolidated Statements of Operations and Comprehensive Loss.
(b)
Recorded within Interest and bank charges on the Consolidated Statements of Operations and Comprehensive Loss.
(c)
Includes immaterial amounts related to variable rent expense.
Schedule of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

February 29, 2024

 

 

February 28, 2023

 

Operating Leases

 

 

 

 

 

 

Operating lease, right of use assets

 

$

2,577

 

 

$

3,632

 

Total operating lease right of use assets

 

$

2,577

 

 

$

3,632

 

Accrued expenses and other current liabilities

 

$

782

 

 

$

1,173

 

Operating lease liabilities, less current portion

 

 

1,884

 

 

 

2,509

 

Total operating lease liabilities

 

$

2,666

 

 

$

3,682

 

Finance Leases

 

 

 

 

 

 

Property, plant and equipment, gross

 

$

3,835

 

 

$

2,754

 

Accumulated depreciation

 

 

(2,863

)

 

 

(2,491

)

Total finance lease right of use assets

 

$

972

 

 

$

263

 

Accrued expenses and other current liabilities

 

$

349

 

 

$

203

 

Finance lease liabilities, less current portion

 

 

644

 

 

 

63

 

Total finance lease liabilities

 

$

993

 

 

$

266

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

4.9 years

 

 

5.0 years

 

Finance leases

 

3.1 years

 

 

1.2 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

4.12

%

 

 

3.83

%

Finance leases

 

 

8.45

%

 

 

3.51

%

Schedule of Maturities of Leases Liabilities

At February 29, 2024, maturities of lease liabilities for each of the succeeding years were as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

2025

 

$

851

 

 

$

435

 

2026

 

 

608

 

 

 

364

 

2027

 

 

401

 

 

 

194

 

2028

 

 

246

 

 

 

122

 

2029

 

 

241

 

 

 

71

 

Thereafter

 

 

549

 

 

 

-

 

Total lease payments

 

 

2,896

 

 

 

1,186

 

Less imputed interest

 

 

230

 

 

 

193

 

Total

 

$

2,666

 

 

$

993